Branches of auditing firms

1. Conditions for the branches of auditing firms entitled to carry on business of audit services:
2. a) Auditing firms have sufficient conditions to carry on business of audit services as stipulated in Article 21 of this Law;
3. b) A branch has at least two practicing auditors, including the branch director. Two practicing auditors are not at the same time as auditor registering to practice in the head office or other branches of auditing firms.
4. c) Being approved in writing by the Ministry of Finance.
5. Branch of the auditing firm not ensuring conditions specified in clause 1 of this Article after three consecutive months shall be suspended from trading the audit services.
6. Where the auditing firm is suspended from trading the audit services, the branches of such auditing firm also suspended from trading the audit services.

Establishments of foreign auditing firms

1. Auditing firms are established its establishments of trading audit services in foreign countries in accordance with provisions of the investment laws of Vietnam and the laws of the home countries.
2. Within thirty days from the date of establishment or termination of operations of the business establishment of overseas audit services, the auditing firm must notify in writing together with copies of documents on the establishment or termination of the operation of the establishment to the Ministry of Finance.

Temporary Suspension of carrying on business of audit services

1. Auditing firms, branches of foreign auditing firms in Vietnam are entitled to suspend temporarily the audit services business; however the time limit for temporary suspension does not exceed twelve consecutive months.
2. Auditing firms suspend temporarily to carry on business its audit services, its branches must also suspend temporarily to carry on business its audit services.
3. Auditing firms, branches of foreign auditing firms in Vietnam suspend temporarily to carry on business its audit services but have not completed yet the audit contracts signed with clients; they must deal with clients on the performance of such contracts.
4. When re-operating, auditing firms, branches of foreign auditing firms in Vietnam must ensure the conditions in accordance with provisions of the law and must notify in writing to the Ministry of Finance no later than ten days prior to the re-operating date.